Basically we're looking at the average gain : loss ratio which I think is appropriate to study when looking for a trend (which is still on track).
Referenced from Tradingview's library_
For a practical example, the built-in Pine Script function rsi(), could be replicated in long form as follows.
change = change(close)
gain = change >= 0 ? change : 0.0
loss = change < 0 ? (-1) * change : 0.0
avgGain = rma(gain, 14)
avgLoss = rma(loss, 14)
rs = avgGain / avgLoss ************SPECIAL NOTE
rsi = 100 - (100 / (1 + rs))
"rsi", above, is exactly equal to rsi(close, 14).
_end quote.
Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
Ticker: I don't specialize in the companies sector, I was inspired to publish my idea independently.
Tip: Check another tradingview publication if your looking for something you can't find here.
Thank You, +AndrewAponas+
P.S. I apologize for any inconvenience my publication could have caused you and humbly ask that you contact me with your concerns before reporting my work to a moderator.
Referenced from Tradingview's library_
For a practical example, the built-in Pine Script function rsi(), could be replicated in long form as follows.
change = change(close)
gain = change >= 0 ? change : 0.0
loss = change < 0 ? (-1) * change : 0.0
avgGain = rma(gain, 14)
avgLoss = rma(loss, 14)
rs = avgGain / avgLoss ************SPECIAL NOTE
rsi = 100 - (100 / (1 + rs))
"rsi", above, is exactly equal to rsi(close, 14).
_end quote.
Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
Ticker: I don't specialize in the companies sector, I was inspired to publish my idea independently.
Tip: Check another tradingview publication if your looking for something you can't find here.
Thank You, +AndrewAponas+
P.S. I apologize for any inconvenience my publication could have caused you and humbly ask that you contact me with your concerns before reporting my work to a moderator.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.